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One of the rapidly growing niches in decentralized finance is social finance or socialfi. Socialfi is the combination of social networks and blockchain. One category within socialfi that merits attention is the creator economy ecosystem since this is actually competition for traditional social media networks and payment and distribution systems. 
Is the growth of socialfi suggesting that there is a burgeoning need among content creators for a better structure of compensation and interaction with customers? To answer this question, we contacted Lyvely, a socialfi platform that aims to take the creator economy by storm. 
Varuni Trivedi, Editor-in-Chief of The Coin Republic, spoke extensively with Dave Catudal, Co-founder, Chief Experience Officer (CXO), and Spokesperson at Lyvely. Let’s dive into Lyvely’s story and Dave’s journey. 
“It’s such an fascinating space (web3 and the creator economy), it’s such an evolving space, I personally think it is the most exciting space to be in this space when more people than ever want to be <a href="https://www.thecoinrepublic.com/2023/12/05/the-sandbox-blockchain-based-virtual-world-for-gamers-creators/" target="_blank" rel="noreferrer noopener">digital creators </a>or want to take their digital finances in their own hands…” 
Catudal’s inspiration for Lyvely and his journey as an entrepreneur: 
“I’ve been a health entrepreneur most of my life, I’ve owned and sold supplement companies, most recently one here in the middle east. You know, my passion that led to the creation of Lyvely is helping people improve their quality of lives, whether that is through the wellness route, through taking care of their health, their nutrition, their fitness, or taking care of their financial wealth and financial well-being I should say, pursuing a life, now I say a Livelihood, doing something they really love.” 
<h2 class="wp-block-heading" id="strong-what-does-lyvely-aim-to-achieve-strong">What Does Lyvely Aim to Achieve</h2> 
“So, with Lyvely, our mission is to provide a social platform where everyone in the world can create a profile, and from day 1 monetize from their profile, whether they are digital creators that have fans and followers on other socials that come to Lyvely to monetize their exclusive content or to start monthly recurring membership for a community they start with our Lyvely community feature or whether they are in the Lyvely ecosystem to become brand-affiliates and connect with brands that are in the Lyvely ecosystem.” 
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“We really opened up a new opportunity where the mindset is we want you to join Lyvely to think more entrepreneurial, to really think of yourself as a business, and every time you are creating content or posting about your service that you are thinking more business like, how do I really monetize this, how do I really convert this time and effort that I am spending posting and creating all this content, how do I really create that into a scalable and sustainable business,” he added. 
<h3 class="wp-block-heading" id="strong-inspiration-behind-lyvely-the-creator-s-mindset-strong">Inspiration Behind Lyvely: The Creator’s Mindset</h3> 
For the founders of Lyvely, it was not just about offering a product that allows people to start a “livelihood”, it is about helping people follow what lets them live, i.e, doing things that they love. 
Rewind to the pre-pandemic days when Lyvely was not conceived yet – Lyvely co-founders Farah Zafar, a corporate legal affairs expert, and Dave Catudal, an entrepreneur with a ton of experience in the wellness industry, grasped the value of having an online presence when their family members and friends lost livelihoods at the blink of an eye when governments announced lock-downs. 
“If you don’t have an online presence, if you don’t have something that you can take online, you’re vulnerable to have that taken away from you… So that’s what excites me, it’s opportunity, the freedom to have more choices.” 
That people don’t consider doing things they love as merely a “job”. They would happily do the things they love, and if they can get paid for it, it becomes ‘Lyvely’! 
<h3 class="wp-block-heading" id="strong-traditional-social-media-vs-lyvely-strong">Traditional Social Media Vs Lyvely</h3> 
“… we are not social media (regular), this is really more (like) business building, brand building, strategic posting to create revenue path…” 
“SocialFi is the merging of two worlds, it’s the merging of the social world and the financial world. Now, we take that one step further because technically it is the web3 crypto world that created that name of socialfi, and it really means decentralized finance. Typically, that’s outside the fiat payment gateways like your stripes and your credit card payments and all that, which are still fine because they are familiar, they work, they get the job done, but it’s limited and there’s a lot of high fees in that usually.” 
“With Lyvely, we fall into the category of socialfi because we are social and we have a full suite of financial tools and some of those tools are decentralized,” he added. 
<h3 class="wp-block-heading" id="strong-launching-lvly-in-a-tepid-web3-atmosphere-strong">Launching LVLY in a Tepid Web3 Atmosphere</h3> 
There’s a large number of projects in <a href="https://www.thecoinrepublic.com/2024/06/24/the-transformation-of-meta-masters-guild-games-into-a-next-gen-web3-gaming-ecosystem/">web3 </a>and there is a sense that investors are wary of projects that have tokens and token launches associated. Dave said that they had invested a lot into their adoption and acceptance strategy. 
“Lyvely has our own token, the LVLY token, which is launching in Q3 (or) Q4 this year. Now that token within the Lyvely platform is going to have utility, lots of utility, including use as a payment or use as access or kind of like a payment.” 
Dave emphasized that users won’t realize (or won’t care) that Lyvely is based on decentralization and blockchain. He emphasized that it’s irrelevant whether users understand the technological architecture of the platform, that they need to understand what it does and how it benefits them. 
“Our token is stealthy, you barely even notice it’s being used, or I should say that the technology behind the token is irrelevant to the user…” 
“We don’t rely on our token sales to float our business. We are building a business, we have a 10 year exit strategy… even have plans to take out company public, so our token is complete dual economy…” 
Dave explained that Lyvely thinks and works like a corporate, not a typical crypto company. Lyvely is in it for the long haul. Lyvely is an ‘equity-backed’ company, some of the largest cryptocurrency miners have invested in them. The leadership has built a dream team, many members have worked with leading tech and crypto companies including Binance and Huobi to name a few.

SocialFi a Game-Changer For Content Creators, Says Lyvely Co-founder

Inhoudsopgave

Thecoinrepublic.com

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